CIL, DVC signs MoU to revive MAMC

Kolkata, Jun 1(UNI) Public sector major Coal India Limited (CIL) today signed a Memorandum of Understanding(MoU) with Damodar Valley Corporation (DVC) to revive Durgapur-based Mining and Allied Machineries Corporation (MAMC).

CIL Chairman Parthasarathi Bhattacharyya and DVC CEO Asim Burman signed the MoU in the presence of Chief Minister Buddhadeb Bhattacharjee.

The MoU seeks the two public sectors to work together to revive the closed unit.

"We will appoint a consultant to start due diligence soon," CIL Director (Technical) N C Jha told UNI.

The consultant would study the feasibility of the closed unit and assess the assets and equipment.

The two PSUs, DVC and CIL, had approached the West Bengal government with a proposal to revive the closed unit.

The state government's response was very positive in the whole process.

The Chief Minister had shown interest in the revival of the PSUs which had gone to BIFR long time back.

Mr Jha said they were now trying to rope in Bharat Earth Movers Limited(BEML) in a three-way joint venture to revive MAMC.

CIL Chairman Mr Bhattacharya said his company was pursuing the revival of MAMC to get equipment required for underground mining, which was declared as a thrust area in the Eleventh Plan.

Equipment manufactured by MAMC earlier were still in use in some mines of CIL subsidiaries.

UNI